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Economic Cooperation in an Uncertain World. Edition No. 1

  • ID: 2246897
  • Book
  • April 1994
  • Region: Global
  • 256 Pages
  • John Wiley and Sons Ltd
Economic Cooperation in an Uncertain World examines the case of international policy coordination in the face of macroeconomic uncertainties. It begins by developing a theoretical framework for analyzing the benefits of coordination when there is uncertainty about the effects of macroeconomic policies. As an illustration, this framework is applied to analyze the efforts of the central banks of the major industrialized countries to deal with the global stock market crash of October 1987.
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1. Introduction.

2. A Theoretical Framework for Modelling the Open Economy.

3. The Theory of Policy Coordination Under Uncertainty.

4. An Example: The Stock market Crash of October 1987.

5. Alternative Empirical Models of the Open Economy.

6. Model Uncertainty and the Gains from Coordination: An Empirical Analysis.

7. Cooperation versus Coordination.

8. On the Sustainability of Cooperative Agreements.

9. Issues in Bargaining.

10. Conclusions.

Appendix - Cooperation and Coordination in Historical Perspective.



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Atish R. Ghosh Woodrow Wilson School of Public and International Affairs and the Department of Economics, Princeton University.

Paul R. Masson International Monetary Fund.
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